Pure Storage Q4 Revenue Climbs 20.4% to $1.06B, EPS Beats
Pure Storage delivered Q4 revenue of $1.06 billion, a 20.4% year-over-year increase, with EPS of $0.69 beating prior-year $0.45 by 53%. Subscription ARR came in at $1.90 billion versus $1.94 billion estimates, while RPO rose to $3.7 billion, topping forecasts by $560 million.
1. Q4 Financial Highlights
Pure Storage reported fiscal Q4 revenue of $1.06 billion, up 20.4% from $879.8 million a year ago, and non-GAAP EPS of $0.69 versus $0.45 a year ago, surpassing consensus by 2.5% on revenue and 5.8% on earnings.
2. ARR and RPO Performance
Subscription Annual Recurring Revenue reached $1.90 billion against the $1.94 billion consensus, while Remaining Performance Obligations climbed to $3.7 billion versus $3.14 billion expected, reflecting strong backlog expansion.
3. Product and Subscription Growth
Product revenue totaled $618.5 million, up 25% year-over-year and above the $579.1 million forecast, while subscription services revenue rose 14.4% to $440.4 million, narrowly missing the $451.0 million estimate; non-GAAP gross profit was $416.5 million on product and $339.3 million on subscription services.
4. Market Reaction and Outlook
Shares jumped over 8% on the earnings release, reversing a near-9% decline over the past month, as investors weigh Pure Storage’s growth momentum and await management commentary on forward guidance.